In East Anglia, rents took a bit of a battering back in 2008, but since then have recovered quite well, especially in places such as Cambridge where the economy is pretty strong.
For East Anglia, rents vary from £700 to £740 through to a much higher rent of £890 from the Move with Us quarterly index. Typically, rents are stable to slightly rising just above inflation.
Landlords – Although rents may rising, tenants are becoming more demanding, so to re-let quickly make sure your property is freshly painted and everything is in good working order, complete with relevant safety certificates. Visit our Maintaining your Property Checklist.
Tenants – If you are able, try to secure a property sooner rather than later. Very often, once a landlord has found a good tenant, they tend not to increase rents that much, if at all while they stay, so the quicker you get locked into a rent level, the less likely you are to see big rises. Make sure the property is let legally and maintenance has been kept up to date. Visit our Renting a Property Checklist.
Letting Agents – As with many areas across the UK, new stock can be very difficult to get. To get the best tenants and landlords, ensure you are registered with ARLA or NALS. The better service you provide to landlords, the less likely they will leave for alternative cheaper options.
And the Yorkshire and The Humber region is also performing well – but interestingly didn’t experience the falls as much as other regions back in 2008. Overall, the majority of rents are rising slightly or just above inflation. These vary from £550 through to £615.
Landlords – Even though rents may be on the up, tenants are becoming more choosey, so to re-let quickly make sure your property is freshly painted and everything is in good working order.
Visit our Creating an Energy Efficient Home Checklist.
Tenants – When rents are rising, it’s best to secure accommodation sooner rather than later. However, don’t rush into renting a property without checking it is legally let. Check if the letting agent is a member of ARLA or NALS or the landlord a member of the RLA. Visit our How to Avoid Rogue Landlords Checklist.
Letting Agents – To get the best tenants and landlords, be a member of an Ombudsman Scheme now – don’t wait for the requirements in April 2014. Ensure you are registered with ARLA or NALS. The better service you provide to landlords, the less likely they will leave for cheaper options or not even consider working with you as you don’t currently belong to any redress schemes.
